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Lockheed Plans to Renovate Arkansas Facility, Add Jobs

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06/17/2019 | 01:20pm EDT

By Patrick Thomas

Defense contractor Lockheed Martin Corp. (LMT) said Monday that it plans to invest $142 million for improvements at its Camden, Ark., facility and plans to add more than 300 jobs at the location by 2024.

Lockheed said it plans to increase the total workforce at the Arkansas facility from about 700 to more than 900 employees in the next few years, with a goal of adding 326 total by 2024. The company said the $142 million is for improvements of the location's existing facilities and new machinery and equipment.

"The facility has a long record of precision manufacturing and on-time deliveries, which is the reason we continue to invest in and expand our Camden Operations," said Frank St. John, executive vice president of Lockheed Martin's missiles and fire control segment, in a statement.

Write to Patrick Thomas at patrick.thomas@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
LOCKHEED MARTIN CORPORATION 0.04% 382.75 Delayed Quote.46.12%
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